Impact of Additional Week on Net Sales
Reconciliation of Non-GAAP Financial Measures to GAAP
Financial Measures for the Quarter Ended September 30, 2022
U.S. GAAP
Acquisition-
Related
Charges
Adjustments
Restructuring
and Other
(1)
Charges, Net (1) Tax Items (2)
Adjusted
(Non-GAAP)
(3)
($ in millions, except per share data)
Operating income:
Transportation Solutions
$
347
$
4
$
56
$
$
407
Industrial Solutions
177
8
19
204
Communications Solutions
136
3
7
146
Total
$
660
$
15
$
82
$
$
757
STE
connectivity
Operating margin
15.1 %
17.4 %
Other income, net
$
4
$
$
$
4
Income tax (expense) benefit
$
56
$
(3) $
(16) $
(182)
$
(145)
Effective tax rate
(8.6) %
19.4 %
Income from continuing operations
$
708
$
12
$
66
$
(182)
$
604
Diluted earnings per share from
continuing operations
$
2.21
$
0.04
$
0.21
$
(0.57)
$
1.88
(1)
The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax
laws in effect for each such jurisdiction.
(2) Includes a $67 million income tax benefit related to the tax impacts of certain intercompany transactions, a $64 million income tax benefit
related primarily to a lapse of a statute of limitation, and a $51 million income tax benefit related to the release of a valuation allowance
associated primarily with improved current and expected future operating profit and taxable income.
See description of non-GAAP financial measures.
(3)
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